|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||8.52 - 8.59|
|52 Week Range||5.71 - 8.59|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||17.90|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
(Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.The world needs a single carbon price to reach climate targets including Europe’s pledge to eliminate emissions by 2050, said the head of the region’s biggest utility.Such a level should be between 20 euros ($28) to 40 euros per ton of carbon dioxide for the coming years, then rising gradually to punish even the most efficient fossil-fuel plants, Enel SpA Chief Executive Officer Francesco Starace said in an interview with Bloomberg Television in Davos. Futures are currently trading at about 25 euros in Europe.“We have different carbon prices in different parts of the world, so we should have one to make this work,” he said in an interview in Davos with Bloomberg Television. “We need to harmonize different mechanisms, which isn’t easy.”The European Commission earlier this month unveiled its Sustainable Europe Investment Plan designed to mobilize at least 1 trillion euros over the next decade to make Europe the world’s first continent to eliminate greenhouse-gas emissions in 30 years. The plan is the most ambitious yet and comes at a time when other nations are expanding in fossil fuels and President Donald Trump is pulling the U.S. out of the Paris Climate Accord.“It’s the right time for Europe to step in, and Europe can have this leadership,” he said.The money that Europe has set aside should be considered on top of what the market is providing and should be used to compensate the carbon-intensive industries that are suffering from the green transition, he said.The finance industry is more than willing to invest in green technology, Starace said.Global money flowing into the renewable energy industry totaled $282.2 billion last year, up 1% from 2018, BloombergNEF said last week.\--With assistance from Andrew Reierson.To contact the reporters on this story: Lars Paulsson in London at firstname.lastname@example.org;Francine Lacqua in London at email@example.comTo contact the editors responsible for this story: Reed Landberg at firstname.lastname@example.org, Lars Paulsson, Jonathan TironeFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Zacapa S.a r.l. Madrid, January 17, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Zacapa S.a r.l. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Telecom Italia's efforts to recruit investors to help it to create a national broadband champion with Open Fiber have stalled, sources close to the matter say, as it is proving hard to hammer out a deal structure. The former Italian telecoms monopoly has been talking since last June with utility Enel and state lender Cassa Depositi e Prestiti (CDP) on ways of combining their fibre broadband operations. In a bid to get the ball rolling, Telecom Italia (TIM) asked infrastructure funds in December to evaluate an investment in the potential future combined fibre-optic entity.
RWE, Germany's biggest power producer, will cut about 6,000 jobs, or nearly a third of its current workforce, by 2030 as the country moves to phase out brown coal as an energy source, the company said on Thursday. It also accelerates RWE's transformation into a pure renewables group, which - along with its low valuation - could turn it into a takeover target, Goldman Sachs said last week. RWE said it would receive 2.6 billion euros ($2.9 billion) in compensation from the government over 15 years to soften the blow to its business.
Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be...
(Bloomberg) -- Japan’s record corporate bond issuance is likely set to slow ahead, but a boom in environmentally-friendly debt could limit the downside.Companies have sold 13 trillion yen ($120 billion) of bonds this fiscal year ending March 31, already the most ever with three months still remaining in the period, Bloomberg-compiled data show. That red-hot pace of issuance probably won’t be repeated in fiscal 2020 because borrowing costs may rise, while fewer notes will mature during the period, reducing corporate demand to sell bonds, according to underwriters.The bond-sale frenzy has increased the cash Japan Inc. holds even more to a record 513.2 trillion yen. While the plentiful funding hasn’t translated to a major rise in capital spending, companies may be using the cash more to boost shareholder returns including stock buybacks, according to bankers. Rising interest in green notes may also help Japan catch up with other advanced economies in sales of the debt to finance environmental projects.“There are many companies that are cautious about making big investments on capital, but it’s positive that they are diversifying their use of proceeds,” said Hisashi Kawada, executive director of debt capital markets at Nomura Securities Co. in Tokyo.Japanese issuers including electronic component maker Nidec Corp., developer Tokyo Tatemono Co. and contractor Shimizu Corp. sold green notes last year, helping boost offerings to the equivalent of $6.6 billion, a record, according to data compiled by Bloomberg. That pushed Japan into the top 10 for green bond issuance for the first time.Sales of the notes in Japan may double in 2020 as addressing climate change becomes a bigger topic, Kawada at Nomura said.One type of environmentally-friendly bonds that may emerge in Japan this year is transition debt, according to Naoki Shindo, managing director and head of debt syndicate at SMBC Nikko Securities Inc. Those securities help companies such as utilities finance projects aimed at switching to cleaner ways of doing business. Issuers in Europe have begun selling such debt.“There are still companies which are engaged in brown businesses but we expect those firms to make a transition to greener business models,” Shindo said. He expects total Japanese corporate bond sales to be around 11 trillion to 12 trillion yen next fiscal year.Enel’s BondsShindo said that new debt types like Italian utility Enel SpA’s sustainability-linked bonds issued last year may start to take off in Japan as well. Interest costs for the notes are partly tied to the company’s success in hitting renewable-energy targets.The primary market may also move to increase transparency in the bookbuilding process, with more issuers using the so-called pot system to sell bonds, underwriters say. The arrangement, prevalent in the U.S. and Europe, has syndicate banks share information among themselves and with issuers on bond buyers.A record 15 Japanese issuers have used the pot system in bond sales this fiscal year, including Japan International Cooperation Agency, the first government-backed organization to sell notes that way, according to Bloomberg-compiled data.(Adds information about sustainability-linked bonds in the 9th paragraph)\--With assistance from Rie Morita and Issei Hazama.To contact the reporter on this story: Ayai Tomisawa in Tokyo at email@example.comTo contact the editors responsible for this story: Andrew Monahan at firstname.lastname@example.org, Ken McCallumFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
Today we will run through one way of estimating the intrinsic value of Enel SpA (BIT:ENEL) by taking the expected...
Rating Action: Moody's changes outlook on Enel Americas to positive; affirms rating. Global Credit Research- 19 Dec 2019. New York, December 19, 2019-- Moody's Investors Service today changed to positive ...
Moody's Investors Service ("Moody's") has today assigned a Baa2 long-term issuer rating to Endesa S.A. ("Endesa" or "the group") with a positive outlook. Concurrently, Moody's has affirmed Endesa's Prime-2 short-term rating. Endesa's Baa2 rating is based upon its stand-alone business and financial profile, as well as its integral position within the broader Enel group.
European shares broke a five-day winning streak on Friday after U.S. President Donald Trump said he has not agreed to roll back tariffs on China, adding to uncertainties on whether the two sides were really getting close to signing a partial deal. The pan-European STOXX 600 index ended 0.3% lower after gaining 2.5% over the last five sessions.
The Brazilian government awarded on Friday contracts for companies to build new power generation installations with combined capacity of 2.98 gigawatts, that will cost about 11.16 billion reais ($2.71 billion) to be built. According to the power trading chamber CCEE, the new plants, which will need to be operational in six years, will sell energy for an average price of 176 reais per megawatt, a 33% discount over the initial price at the auction. France's Voltalia, Norway's Statkraft and Brazil's Eneva are among the winning bidders.
By buying an index fund, investors can approximate the average market return. But if you choose individual stocks with...
European shares ended flat on Wednesday, as gains for the defensive real estate and utilities sectors were countered by losses in luxury good makers, with caution prevailing ahead of the U.S. Federal Reserve's interest rate decision. After flitting between small gains and losses during the session, the pan-European STOXX 600 closed with a tiny 0.02% gain as investors awaited the U.S. central bank's monetary policy statement due at 1800 GMT. With a rate cut from the U.S. central bank near-certain investors will be focussed on forward guidance, as policymakers are deeply divided on the need for further easing amid improving U.S. economic data.
Moody's Investors Service ("Moody's") has today confirmed Enel Russia, PJSC's (Enel Russia) Ba3 Corporate Family Rating (CFR) and Ba3-PD Probability of Default Rating (PDR). The outlook has been revised to stable, from rating under review. The action completes the review for downgrade initiated on 13 June 2019 following Enel Russia's announcement to sell its largest generating asset Reftinskaya GRES (RGRES) to the electricity-generating arm of SUEK JSC (Ba2, stable) for RUB21 billion (around $323 million), plus a contingent component of RUB3.0 billion.
Enel SpA (BIT:ENEL) is about to trade ex-dividend in the next 3 days. If you purchase the stock on or after the 22nd...